Form 4: Parsons Corp Executive Michael Kolloway Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Michael Kolloway, Chief Legal Officer and Secretary of Parsons Corporation, reports multiple transactions involving the disposal of common stock to cover tax obligations.
Summary
- Michael Kolloway, a key executive at Parsons Corporation, filed a Form 4 detailing changes in his beneficial ownership of the company's common stock.
- The report covers transactions from February 28, 2023, to March 1, 2024.
- These transactions primarily involve the disposal of shares to satisfy tax withholding obligations.
- The sales occurred at prices ranging from $44.88 to $81.17 per share.
- Following these transactions, Kolloway directly owns 73,592 shares and indirectly owns 5,793.1195 shares through an ESOP.
- The filing clarifies that previous Forms 4 did not accurately reflect these withholding transactions.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing primarily reflects routine tax-related stock disposals by an executive. It doesn't indicate a significant shift in the company's prospects or management's confidence.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Key Dates
| Date | Description |
|---|---|
| 02/28/2023 | First reported transaction date; disposal of 885 shares at $45.03. |
| 03/01/2023 | Disposal of 964 shares at $44.88. |
| 03/04/2023 | Disposal of 621 shares at $45.41. |
| 02/26/2024 | Disposal of 873 shares at $80.54. |
| 02/28/2024 | Disposal of 1,239 shares at $81.17. |
| 03/01/2024 | Disposal of 1,451 shares at $80.82. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.